Hope Chamber Special Program on New Tax Law When: Wednesday Feb 7, 7:00pm (come early) Where: Inn at the Mill, Hope, Tavern Room Ed Portice, CPA, Principal at BKC, CPAs, PC will explain the Ins & Outs of the New Tax Code and how it will affect you and your Business. Terry Urfer Hope Township Read More…
The 2017 Tax Cut and Jobs Act was enacted on December 22, 2017. This Act was the most comprehensive Federal tax change since 1986, affecting individuals and all types of business entities, both large and small. With limited exceptions, the Act’s provisions start with the 2018 tax year. Some highlights of the Act include: Lowering Read More…
Fellow professionals: BKC, CPAs would like to invite you to attend “The Best Federal Tax Update Course” by Surgent McCoy. We are again sponsoring this event in January to help prepare all of us for the upcoming tax season. We think meeting this close to tax season will allow us to have the most up-to-date Read More…
Under current tax law, you can deduct taxes paid to state and local governments, including property, income, and sales taxes. But the new law that takes effect in 2018, caps the deduction at $10,000, either for property taxes, state and local income taxes, or sales tax. Homeowners whose property taxes are more than $10,000 and Read More…
Reminder: New Jersey Sales and Use Tax rate will decrease from 6.875% to 6.625% effective January 1, 2018. If your business collects sales tax, or you are required to pay use tax, you will need to update your point of sale and accounting systems to reflect the new rate. This reduction is the second phase Read More…
In the early morning hours of Saturday, December 2nd, the U.S. Senate passed its version of the Tax Cuts and Jobs Act by a vote of 51-49. It was passed with no Democratic support and one opposing Republican vote. While the bill still differs from the House bill on several key issues, amendments to the Read More…
Update: 12/22/17 President Trump, on Friday, signed his first major legislative victory, a $1.5 trillion tax overhaul expected to trigger tax cuts for most Americans. Trump signed the bill before heading to his Mar-a-Lago resort in Palm Beach, Fla., for the winter holidays. The Tax Cuts & Jobs Act: Congress Passes Tax Reform On December 20, 2017, Read More…
BKC participated in the 23rd annual Turkey Trot in Flemington, NJ this Thanksgiving. All proceeds benefit the Center for Educational Advancement (CEA). Learn more at www.cea-nj.org.
On Thursday, November 16, the US House of Representatives passed the Republican crafted tax reform bill by a 227 – 205 vote. That same day, the Senate Finance Committee approved its version of the Tax Cuts and Jobs Act, sending the bill to the full Senate for debate and a vote. The Senate is expected Read More…
On an annual basis, certain individuals should review their income tax situation at the end of each year, so as to minimize their income tax liability for the year. Common planning techniques include deferring income and/or accelerating deductions to the following year. With the current climate of dramatic tax reform in Congress, there is even Read More…
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